Recap $SIREN Roller Coaster: from 0.35 to 4.81, then a sharp drop back to pre-liberation levels

At the beginning of March, it was hovering around 0.35, and by late March, it shot straight up to $4.81.

Market cap surged to over 2 billion USD, with a 24-hour trading volume of over 39 million.

Why did it rise so rapidly?

First, the rotation of the AI Agent track. SIREN is an AI + DeFi protocol on BNB Chain, with the narrative of a "Dual Persona AI Agent System," perfectly riding the AI wave.

Second, supply burn. In February, the project team directly burned 26% of the tokens, reducing supply, which naturally made the price easier to soar.

Third, DWF Labs holdings. The institution bought 3 million SIREN tokens near $0.18, giving the market a false impression of "institutional backing."

Fourth, the launch of perpetual contracts. With leverage tools available, bullish traders went all-in, while bears were crushed to the ground.

The fourfold positive factors stacked together, and the price took off 🚀🚀

But what was the most brutal? The immediate waterfall after the rise!!

After hitting a new high of $4.81 on March 23, it retraced to around $1 within a day, a drop of over 80%.

On April 1, it dropped again! Several million USD in market value evaporated instantly.

Some people bought in at over $3, now probably standing on the rooftop, blowing in the wind.

The name SIREN is really fitting. In Greek mythology, the Sirens used their singing to lure sailors, making them entranced, causing their ships to crash on rocks, and ultimately destroying the ships and killing the crew.

In the crypto world, it uses a skyrocketing song to attract you, making you forget the risks, stop-loss, and position management. When the song stops, the sailors wake up, but the ship is already shattered.
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